July 02, 2024
Promat Comimpex S.R.L. Acquires Majority Stake in Agrotex S.R.L.
Promat Comimpex S.R.L., majority owned by Ameropa Group, has acquired a majority stake in Agrotex S.R.L., a leading supplier of agricultural inputs and cereals in north-western Romania. Agrotex has experienced rapid growth, with a turnover exceeding EUR 150 million in recent years.
This strategic acquisition combines Promat's capabilities, integrated into the Ameropa Group since 2018, with Agrotex's strengths. This union aims to optimize operations and foster further growth in one of Romania's key agricultural regions, benefiting local farmers and enhancing service access for European clients.
The acquisition emphasizes the Ameropa Group’s commitment to strengthening its presence in Romanian agriculture and building a significant agribusiness group in the region. The integration of Agrotex is a vital step towards contributing to the development of the local agricultural sector.
Adrian Mircea Lăţa, General Manager of Agrotex, said: “We are pleased that the acquisition by Promat of the majority stake in Agrotex, will allow us to further support our goals of growth, specialization, and business diversification… As General Manager, together with the management team that has contributed to the year-on-year development of the business, we will continue to lead Agrotex operations, working closely with the Promat team. We are certainly looking forward to further leveraging our experience combined with Promat’s business model and experience.”
Cristian Moldovan, General Manager of Promat, added: “This investment comes as a natural step in our shared desire to explore new opportunities for market development and expansion, and more generally to ensure long-term sustainable growth in the local agricultural sector. An important element for us is Agrotex’s dedicated and professional management team, with whom we will continue to work after the completion of the acquisition. In fact, both the other representatives of Promat and I will be part of the structure of the future Board of Directors of Agrotex.”
This transaction is subject to customary closing conditions, including regulatory approvals.